With the increasing number of available vendors in the marketplace, it is important to make sure many options are taken into consideration. Comparing different costs from multiple sellers increases your opportunity to make more informed decisions and increases your profitability, as a result.
By using this Cost Comparison Template, you may analyze the optimum options in whether weighted or unit-based approach. In addition, the template allows you to compare the costs between different months and reveals the monthly/yearly cost trends, with the help of customizable charts and graphs.
Cost Comparison Template Features:
This template has five sections to compare the cost based on different approaches.
Before the cost calculations, start with specifying the vendor names, units, and currency to be used in the template. The yellow notes in the dashboard are placed to explain the purpose of each section. In addition, you can choose whether or not to highlight the minimum unit cost from the “Highlight the min unit cost?” option.
Weighted Cost Comparison
In this section, you can compare the total cost of purchasing the same items from different vendors. You should input the quantity and unit for that item first, and then the unit prices of the different vendors.
The template will show the lowest total cost on the top, with a colored cell. Besides that, you can also determine the budget required for the job. You will see a warning message if the total cost of purchasing the specified items from that vendor exceeds the previously set budget.
You can select the name of the desired vendor from the dropdown menu. Please do not try to delete or manually edit the grey calculation cells.
Unit-Based Cost Comparison
This section allows you to compare the cost of the same item in various amounts and from different vendors. You should set the unit first, and then enter amounts and prices. You will see the lowest cost per unit and the vendor name on the right side, even if the amounts are different.
Note! You can turn off highlighting the min-cost (green cells) from the dashboard section.
Two Month Cost Comparison
Here, you can compare the cost of the same item in two different months. First, you should input the name of the item and units, then the unit price in different months. Thus, you can see the comparison graph, as the Cost Comparison template makes it easier to see the difference between prices in the selected months.
To be able to make a successful comparison, remember to select the vendor name first. The aim is to compare the price changes of the same vendor and the same item, for two separate months.
You can set the vendor and comparison month from the dropdown buttons.
Vendor Based Bucket Cost Trend (Monthly)
This section allows you to compare the monthly cost changes of the same bucket from the same vendor, over a calendar year period. Besides that, the chart will show the minimum total cost of the current and the previous months.
Item Cost Trend (Yearly)
This section shows the unit cost changes of the same item over the years. Besides that, you may also see the changes in the total cost of buying the same item list over the years. It provides you with a clear conclusion on the amount of money to be spent on the same products, across different years.
Cost Comparison Template Features Summary
Compare the cost of the items from multiple vendors across different time periods.
Calculate the total cost and find the lowest option.
Informational notes included.
No installation needed. Ready to use.
Works both on Mac and Windows.
Compatible with Excel 2010 and later versions.
Does not include any VBA macros.